icad (NASDAQ:ICAD) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

icad inc. (NASDAQ:ICAD)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.78 and traded as high as $3.78. icad shares last traded at $3.75, with a volume of 166,301 shares traded.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ICAD shares. Wall Street Zen began coverage on icad in a research report on Tuesday, May 20th. They issued a “sell” rating for the company. BTIG Research lowered shares of icad from a “buy” rating to a “neutral” rating in a report on Wednesday, April 16th. Craig Hallum lowered shares of icad from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Finally, Laidlaw reissued a “hold” rating on shares of icad in a research note on Thursday, April 17th.

icad Stock Up 0.5%

The firm has a fifty day moving average of $3.66 and a 200-day moving average of $2.78. The firm has a market cap of $103.01 million, a P/E ratio of -19.74 and a beta of 1.38.

icad (NASDAQ:ICAD) last released its quarterly earnings data on Tuesday, May 13th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. icad had a negative return on equity of 15.03% and a negative net margin of 26.63%. The company had revenue of $4.87 million during the quarter, compared to the consensus estimate of $4.54 million.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Eagle Investment Management LLC increased its holdings in shares of icad by 6.1% in the fourth quarter. First Eagle Investment Management LLC now owns 716,161 shares of the technology company’s stock valued at $1,311,000 after purchasing an additional 41,000 shares during the last quarter. PKS Advisory Services LLC acquired a new stake in icad during the fourth quarter worth approximately $53,000. Geode Capital Management LLC boosted its holdings in shares of icad by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 276,493 shares of the technology company’s stock worth $506,000 after acquiring an additional 17,059 shares during the period. Perritt Capital Management Inc grew its position in shares of icad by 1.9% in the fourth quarter. Perritt Capital Management Inc now owns 189,100 shares of the technology company’s stock valued at $346,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of icad by 51.3% in the fourth quarter. Wells Fargo & Company MN now owns 39,542 shares of the technology company’s stock valued at $72,000 after purchasing an additional 13,402 shares during the last quarter. 24.61% of the stock is currently owned by institutional investors.

About icad

iCAD, Inc engages in the provision of cancer detection and therapy solutions in the United States. It operates through two segments, Detection and Therapy. The company provides ProFound AI for digital breast tomosynthesis and 2D mammography; PowerLook, a density assessment solution; and ProFound Risk, a breast cancer risk analysis.